poepl who mocj tjis guy have thier heads up thier asses . This man is the Nostradamus of economics , he told us so . But I gues some people are stil drinking the Obama brand Kool-aid
Dude U don't even know me to be responding to my comments, tell me that shit in my face, U fucking scumbag, Come to N.Y.C & tell me that shit in my face, Faggot.
@superpartman Dude U don't even know me to be responding to my comments, tell me that shit in my face, U fucking scumbag, Come to N.Y.C & tell me that shit in my face, Faggot.
Sad numbers: Total US population= 307,006,550. Of that... Retired on SS 29,531,611 Disabled on SS 5,873,673 Widowed on SS 4,707,215 On Welfare 19,000,000 Unemployed 18,600,000 Homeless 3,500,000 Children 61,146,753 Illegal Immigrants 20,000,000 TOTAL 162,359,252 Leaving 144,647,298 total working taxpayers Now lets divide them into the national debt (the REAL one, not just the deficit) 79,100,000,000,000 divided by 144647298 = 546,847 PER WORKING TAXPAYER! Are we slaves to debt?
@akura1984 We do not face high inflation, we face deflation and that's exactly what will happen if Schiff, and the IMF get their way. Let's just see see what happens in Europe since the US won't cut the deficit and balance the budget in the short term. (Actually, if you look up Ireland they DID face deflation after putting in austerity measures!)
Have a postive view people. Realize that socialism is dying everywhere around the world each day minute by minute. Their economic system is crashing. Austrian economy is taking over and freedom shall prevail.
The progressives idea of "creating demand" with government incentives has been proven time and time again to be just what it is-desperate and ineffective.
LindaMcmahon2010 blocked me from informing constituents that PETER SCHIFF has the Tea Party support.......Maybe everyone should post a comment on her site reminding people of Mr. Schiffs candidacy and merit. Let's inundate any pro McMahon site with the truth. Then she can get her moneys worth out of the staffer(s) she pays to censor information. If you know someone with a brain in Connecticut please get them involved!
Peter, I think your Gold play is poised to go up for at least a year, You were right, I wish i had listened back when you first advised everyone its dirt cheap.
the only person you fucked is yourself you moron. if 25 other students were stupid like you, then its just a sign of the times that the nation has unproductive, useless riff raff like you and your college friends - that is the real reason why the US is in trouble, not because of the government or keynesian economics. there are at least 150-200m of you parasites in the US.
@financialarsonist Keep smoking your keynesian crack pipe. You people are finally on the decline "thank God" how much credibility do you have with the entire country in ruin- Everything seems like a scam these days
Peter you forgot that the communist rule Chine, and there is just one political party, so they do not have to do any good for Chinese people and they will still remain in power.
I own a 1991 BMW 525 and it's still looks as good than any new car in the parking lot!
Starts every morning, get's me to work in style with premium stereo, heated, automatic leather seats, sporty handling, plenty of power from 6 cylinders, 5 speed manual, what the soul needs!
china is a phony nation its people ar enot protecting its just more commie show and trick and Golitsyn predicted crap....China intentionally got us hooke don their heorin....again
@LeeRyan2930 Yeah imagine how bad you would feel if you were jobless and congress is giveing money to banks, car companys and unions and not giveing you the unemployment insurance money you earned.........
I agree with Peter on the U.S. economy, but I don't think China is going to do any better just because of their slave labor and lack of freedoms.- It cannot sustain itself as a capitalistic system without the U.S. demand propping it up. IMO.
@2uberu What are you talking about? They sell their stuff to the whole world. They´d prefer USA to be there and buy their stuff but they can live without you.
@mr82769 China can't sell to anyone that can't afford to by their stuff including their own citizens. I don't see any other country taking up the slack if the U.S. stops buying.
@mr82769 They can't even afford basic plumbing. You can't go from a third world nation to a first without a strong infrastructure -physical and skilled.
@2uberu They have to fastest trains in the world. Their economy can benefit from Keynesianism because they can upgrade infrastructure and they are doing just that. With future economic benefits to come from it.
@mr82769 Ooooh fast trains. They mean nothing unless you believe state-run propaganda. They need the skilled labor infrastructure to support a growing economy which they don't have. They need a free market which encourages small businesses to have skilled employees who are able to fix things that break. Their court system is also corrupt which makes binding contracts worthless.
@2uberu If you dont know the importance of infrastructure dont bring it up. And China an India have (I think) 1 million newly educated engineers EVERY YEAR. Western firms even acknowledge the skill of the Chinese. Its just a problem that those skills are used copying western design and technology.
I will admit that the court system lacks some things and the copyright/patent system needs to be fixed. But the US also waited until it was in its interest.
I love Schiff and all but I hate how he tends to marginalize economic activity every week like this is the week that the economy is gonna crash. I just watched a video that he posted over a year ago, talking about how the dollar index was falling and how this is proof that the dollar is gonna crash but the dollar has gone up pretty significantly since then
Well the job numbers for June came out today and Peter you are right once again. I am blessed to be exposed to someone with your knowledge and prescience.
i must say the analogy about china's foreign's reserve is flawed. China's foreign reserve took many years to accumulate to that level of GDP, while his analogy of taxing the u.s seem to imply the accumulation took only 1 year.
@financialarsonist Analogies are flawed by virtue of being an analogy. The point of an analogy is to get a point across. Do you have more wise ass comments?
yes. his points are completely flawed and only idiots like you would listen to him. the reason that you people are on the same wavelength as schiff is all too evident: you are all idiots.
@financialarsonist I don't listen to Schiff primarily you walking logical fallacy you. I happen to use analogies and i have found there is only one use for analogies. To get a point across. You're giving some shit to someone over a stupid reason, so i call you out on your bullshit. I have several relevant issues with Schiff, wheras the ones you have shown are blatantly stupid.
@doctorwilly I disagree :P He didn't mention a time frame at all. He said if we were taxed 30k per person we'd scream. I agree. If they raised our taxes by $1000/yr for 30 years, we'd scream. The time frame isn't relevant to the comparison. Fact: China has reserves. They should to enhance financial stability. We should too. Where are ours? Ours has a negative sign in front of it.
@gwydion75 of course time frame is relevant.say we get taxed over 60 years to reach that level, who would scream? shorter the time periodsto pay the same amount of tax, greater the financial burden on the tax payer. besides, the tax rate is china ain't high compared to the US
Furthermore, foreign reserve arise as result of trade surplus, not because of taxes. I dunno what the chinese have to scream about other than inflation
The fact u brought up is irrelevant to this dicussion..
@doctorwilly Well isnt the point that the money used to buy those reserves could have been put to better use? And still can. Especially when youre as poor as many of the Chinese are.
@mr82769 government spending in china is already very high. besides, there's not a hope in the world to be able to invest 2 TRILLION dollars with a reasonable return. Buying treasuries has been part of their strategy to keep the RMB low, though it seems to have fueled a bubble. if you know a better way to manage 2 trillion, go tell them.
@mr82769 the point here is not about how much money that is compared to the world money supply, but rather "how hard" it is to invest 2 trillion dollars into sound, low risk investments, that gives a better return than the treasury yield.
if warren buffett, has enough troubles finding great investments for $25 Billion of idle cash, it is unlikely an inferior capital allocator would do better than Buffett with 2 Trillion.
@mr82769 I repeat, the point is about "ability to find low risk investments that returns reasonably higher than treasury yield." IT'S NOT ABOUT HOW MUCH MONEY THAT IS RELATIVE TO THE WORLD MONEY SUPPLY.
the reserve is handled by central bank, not by a bunch of star hedgefund managers who bust their asses to make huge money(prolly not low risk either). not to mention most of the have problem achieving stellar returns when their AUM goes beyond a few billion.
@doctorwilly You were to one saying that. "Low risk investments with a reasonable return". Having it all in dollars isnt just that. Having that amount of money the investments can be spread into a lot of areas and you can get a reasonable return on some/most of it (nobody is saying thay HAVE to invest all of it).
@mr82769 what point are u trying to make? did i say they must invest all 2T in 1 investment?
if you want to invest in something other than the treasuries, it better also be safe with reasonaly higher yield. Otherwise, they are still better off investing in treasuries and keeping their RMB low.
for the record, the chinese holds 700+B of treasuries of the world's largest debt issuer. If u claim there are places to invest the rest of the 1.3T, you go tell them. i would applaud u if u can.
Thanks for another excellent lesson on economy. I have a degree in Economics, but I learnt more on youtube than I leant in school. Actually all I learned in school was government propaganda. Promoting economic ideas that approve of the government's recklessness.
Ditto that! I got into the biggest argument with a past economics professor for that very same reason. If you wish to learn more about the usurpation of our educational system, look into the findings of the Reece Committe on tax exempt Foundations...also check out Charlotte Iserbyt.
@financialarsonist That presupposes that schools today are education by virtue of being a popular and accepted ritual. Horace Mann and John Dewey's goals when it comes to applying the prussian model to the United states wasn't so much about education but creating an obedient little factory worker and state worshiper/thumper like any good faithful keynsian will be. It's clear to me that it worked. But you're not about to admit it, are you?
haha, you nosy twat - you are not thinking that you will get free advice from me are you? my rate was US$6,600 per day 5 years ago before i started a PEF, pay me, and i'll engage you. otherwise, adios.
@financialarsonist I don't care.... Do you really think i give two shits how much money you make? You're not me! LOL. I don't have some twisted fixation. Besides it's totally irrelevant to the point. For someone with such a great salary you sure as hell make stupid ass comments and you can't counter with consistent use of logic to someone who proudly admits not being a product of schools (At least, not anymore).
you seriously think that youtube is some sort of a debate forum? i created this account to diss peter schiff so mind your own idiotic business and keep your nose out of mine. i'm not here to engage morons like you -- like i said, i get paid in real life to do that (note: well, actually to those that have the propensity and ability to pay).
@financialarsonist This moron owned you with pure logic, you fool. I don't need to get paid to totally ruin each and every of your arguments if they are based on lies and deceit and i will do it for free just because i enjoy it. It's gratifying for me if you tell me you are a rich cunt when i totally show you how much of an intellectual waste you are. Again, i do beleive Peter is inconsistent, but you are simply a joke.You are not promoting truth by making purely subjective claim as argument
you wouldn't know what a logical argument is if it came and bit you on the ass. the only self-gratification you can get is on youtube since you are a loser in real life. face the facts and the music, peasant. now stop bothering me with your pedestrian peasant tripe.
Oh no, i'm a loser in real life. You have employed an ad hominem fallacy as argument for not providing a concise answer. I don't think you can differ logic from your own asshole.
@financialarsonist - People who go online to brag about wealth or education usually have very little of both. Judging by your comments, your advice is worthless garbage. Posting on Youtube how someone should actually pay you to listen to your worthless blather has as much credibility as a Nigerian letter scam or pyramid scheme.
@financialarsonist - Your choice of racial slurs is very telling as to your lack of character and intellect. You and your co-habitant Zeldovich are examples of low self-esteem losers desperately trying to find validation in internet forums. People like you are easy marks, the same language appears over and over againg (referring to people as proles or peasants unworthy of your posts etc). Narcissists make the best targets - as they can't deal with embarrassment.
well, you are obviously not a very smart guy nor an intelligence expert as you claim. otherwise, you would realize that different people are using this account to post at different times and on different subjects.
@financialarsonist - Is that the best you can do? Are you inferring that someone else must have posted the racist slur? If different people are using the same account, it means you and your co-habitants sit together creating stupid posts, as no single person is smart enough to think on their own. You really are a pathetic loser. Do you and your co-habitants celebrate a posted comment by sharing a single beer amongst all of you too? Then troll the streets looking for cigarette butts?
conversely, I import to China. I manufacture goods for which I pay in dollars (rent, labor, materials), and sell in RMB, so the strengthening RMB is good for my business, however, making the packaging in China is getting more and more expensive.
I have been living in China 7 years now. Prices are going up for small domestic made things that are for domestic consumption. This is the effect of inflation.
My friends who are exporters, are having price pressure because of the strength of RMB vs $.
The balance I have seen so far, is my rent, in RMB is has not gone up in 7 years, because there is over supply of apartments, thereby a downward price pressure, but the same rent in RMB translated to $ is much higher than before.
gold has two down days and all of a sudden everyone jumps out and says the bubble has popped... gold is not a bubble.... there is no "gold buyer tax credit".
Peter has helped millions around the world by warning them of incoming economics storm! I thank him for taking time out by posting such type of blogs daily! Thanks again, for helping individuals like me for protecting and multiplying our wealth! I wonder why Peter is still not the most popular man in America!
as if a peasant like you has any money to begin with. you are just here for free advice aren't you, you cheapskate. well, the advice is free for a good reason - it sucks.
@TheMrMarple Imagine that the price level of something stays flat, like the collar bone from the sholder to the neck. Then it suddenly shoots up (the side of the head), stays up there for a while (the TOP of the head) and then it crashes down again (the other side of the head).
Lastly, it continues along the same level it started on, i.e. the along the collarbone on the other side of the head out to the shoulder. This is the bottom of the head-and-shoulder. Did this answer your question?
Yep the Chinese government is hiring it's people out as slave labor to the rest of the world........ Wake up people of China......when the people of China start getting paid what they are worth the manufacturing will move back to Europe and America....
china put a stop on all excessive deficit printing at the g20..their ultamatum: reduce your deficit or we won't buy your bonds... if deficit increases more than they like they will sell off and stop buying causing the fed to have to print money into existence rather than sell to foriegn governments. chinas unpegging was in their favor and they hold the cards now. that might be a good thing 4 now. less deficit.i usually agree with Pete but I think the gold market will stagnate until year end.
My town received a sidewalk last year...built by contractors from another town, using our share of the stimulus money, we see it already cracking, the landscaping is deteriorating because the town can't afford the labor to care for it, and half the metal rails adjacent to the road are unpainted and in rust...meanwhile, our Governor is begging Washington for Medicaid money so he can balance his budget due to "lower than expected revenues"... but I have hope that that sidewalk will soon produce...
PETER! start talking about what WILL happen between the end of august and throughout 2011. then compare your solution to linda's. she's doesn't have any real plans about the future.
even if you lost the election you would have completely made another "peter schiff prediction." even MORE people would be saying "we should have listened to schiff."
...and no more inexpensive goods from China for Americans. Not to worry though, there will be plenty of corporate crooks that will outsource labor to places like Vietnam and Laos for pure profit.
If I hear another professional trader or investor say on CNBC that the "bond market is the most reliable indicator of things" I am going to just start laughing! The Fed and US Treasury know they gotta rig the bond market. It's their cash cow. If they lose control of the bond market, the endgame scenario will be very, very close I think. I am of the opinion that the bond market is now the most manipulated market now contrary to what most of Wall St thinks...
Are "technicals" in the stock market based on anything? People talk about "head and shoulders" and other patterns, but it seems to me like this is meaningless except that so many people buy into it that it becomes a self fulfilling prophecy.
@purebacon I think it is self fullfilling too. Just like the quasi fact that gold is worth anything. Its a freaking metal for crying out loud.
Somewhere on the net theres a school where you can learn how to trade currencies and they seriously teach that the fibonacci numbers are important as to foresee what happens once a currency cross reaches a certain level. So some bizarre human psychology is involved too.
What you said is largly true, but the patterns of analysis are in fact based on investment truths regarding mass psychology. Of course that being said, there usually is a sell off 'only' because chartists see a head and shoulders pattern, even though the stock could just as easily rise with good company news. So as you said, much of it is real, while much of it is 'oh i better pull out now because i think everyone else will too'.
Technicals is the only method that helps u trade in both directions with equal ease. It takes hope & despair out of the equaiton by giving clear levels of entry/exit. It's not perfect. No method is. Sell-offs happen on both good & bad news, and other analysts often modify their reports only after stock price exceeds their target. Instead of opining, why don't u give it a try? A sphere looks like a circle. Would u rather spend ur entire life calling it that just because it "seems" so?
Peter don't you think the reason the EURO went up and GOLD went down because some Euro countries sold a bunch of GOLD and SILVER to pay some creditors ?
I know in July 1st E-U was planning to reduce the credit availability. I don't know the details though.
Your computer graphics guy was able to straighten your eye out, but he didn't get the greens screen spill off of your shirt. B- for the graphics guy.
Thanks Peter, I always look to see what you have posted, I sincerely hope you win the election, we need you and others like you to help to fix this system.
But haven't you all heard? Pelosi said that the best way to create jobs is to extend unemployment. She stated that this is by far the best stimulus for jobs.
i hope you're right about gold. the dollar is the world's currency, and a weak dollar as opposed to weak euro is ultimately what's gonna drive gold prices up. it's a great week to buy gold now, though, since newfound confidence in the euro will temporarily lower gold prices.
Krugman's latest op-ed is claiming deflation is killing our economy. He claims balanced budgets are gonna put us into a 3rd Depression. He claims we should spend spend spend!! God help us if the government heeds his advice. Thanks for words of wisdom Peter.
@uwmbigb its the sound of the annoying vuvuzella's from the Soccer World Cup. or Football World cup as we call it in the rest of the civilized world ;)
@americanbandwidth Just buy food, you won't need an excess of guns or ammo, just enough to defend your house. If you think your gonna be hunting to live if there is a real collapse, your dead wrong, theres about 70 million people who think that, the game will be gone in weeks if there is a real collapse.
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franks2732 1 month ago
poepl who mocj tjis guy have thier heads up thier asses . This man is the Nostradamus of economics , he told us so . But I gues some people are stil drinking the Obama brand Kool-aid
napalmcoffee 1 year ago
Dude U don't even know me to be responding to my comments, tell me that shit in my face, U fucking scumbag, Come to N.Y.C & tell me that shit in my face, Faggot.
chabalito000 1 year ago
Peter Schiff you truly are a clueless asshole!!! All you do is look at numbers and think you know it all. You need to get some common sense.
Fenski88 1 year ago
@Fenski88
you are the one who is clueless!!! you you YOOOOU!!!!!! YES! CLUELESS MONEKY!!!!
superpartman 1 year ago
@Fenski88 troll fail
TheBlitz1 1 year ago
Fuck U Peter U don't give a shit about no-1 but yourself piece of shit SCUMBAG.
chabalito000 1 year ago
@chabalito000
aren't you the same you shitbag!!!!
superpartman 1 year ago
@superpartman Dude U don't even know me to be responding to my comments, tell me that shit in my face, U fucking scumbag, Come to N.Y.C & tell me that shit in my face, Faggot.
chabalito000 1 year ago
@chabalito000 lol worst troll fail ever
TheBlitz1 1 year ago
Its OK for americans to buy gold while USD is falling, but not for others as USD and Gold now are negative correlated.
Norwegian73 1 year ago
Maytons 1 year ago
Schiff for senate!
1514mojo 1 year ago
@akura1984 We do not face high inflation, we face deflation and that's exactly what will happen if Schiff, and the IMF get their way. Let's just see see what happens in Europe since the US won't cut the deficit and balance the budget in the short term. (Actually, if you look up Ireland they DID face deflation after putting in austerity measures!)
girardbcp 1 year ago
Haha, he's talking about the yield being below 3%, when HE SAID IT WAS SUPPOSE TO RISE!
More inflation? Inflation is below .02% and he predicted we'd have inflation and maybe hyperinflation right now back in 2009
Ohhh how wrong this guy is, truly ridiculous
girardbcp 1 year ago
One can not borrow their way to prosperity.
LivingMindfully1975 1 year ago
hmm things sure seem like they're gonna suck real hard real soon. Maybe its time to learn chinese and move to China
a4finger 1 year ago
Hey Peter did you see UFC 116, Chris Lytle! ..... Schiff vs Linda McMahon - MMA vs WWE - Reality vs Illusion!
marcef100m 1 year ago 3
@marcef100m - that made 116 the best show yet.
ORVX 1 year ago
Mr. Schiff
If you become more famous, don't let it affect you correct judgment. I am buying gold because of you.
vgcq02 1 year ago
@vgcq02
another stupid follower.
EnhydraLutris1 1 year ago
this is such a good vlog just watch this video 6 times for a great 1 hour tutorial
EsCurve 1 year ago
a beacon of common sense in a sea of gov't financial darkness
goo2u 1 year ago
Have a postive view people. Realize that socialism is dying everywhere around the world each day minute by minute. Their economic system is crashing. Austrian economy is taking over and freedom shall prevail.
Gassebol 1 year ago
chris lytle just mentioned that he likes peter schiff for the senate after his win at UFC 116. millions of people saw/heard that. made my day!
stoneeh 1 year ago
The progressives idea of "creating demand" with government incentives has been proven time and time again to be just what it is-desperate and ineffective.
pretorious700 1 year ago
but Peter said we weren´t going to double dip? what is it now ?
haveabeer123 1 year ago
Do u even read ur comments.
I want u to tell me your position on neo-natal circumcision.
gingowitch 1 year ago
LindaMcmahon2010 blocked me from informing constituents that PETER SCHIFF has the Tea Party support.......Maybe everyone should post a comment on her site reminding people of Mr. Schiffs candidacy and merit. Let's inundate any pro McMahon site with the truth. Then she can get her moneys worth out of the staffer(s) she pays to censor information. If you know someone with a brain in Connecticut please get them involved!
weavermama 1 year ago
@weavermama
well deserved for trying to stir up trouble. people like you need to be jailed.
financialarsonist 1 year ago
Comment removed
ExquisiteDoom 1 year ago
thumbs up
yougiberishtube 1 year ago
who are the 3 douches that put thumbs down? lol
gooseCha 1 year ago
Peter, I think your Gold play is poised to go up for at least a year, You were right, I wish i had listened back when you first advised everyone its dirt cheap.
HILL1776BILLY 1 year ago
@kikrlbs You should have video taped that
lushfauna 1 year ago
Your the man Peter!
lushfauna 1 year ago
@kikrlbs
the only person you fucked is yourself you moron. if 25 other students were stupid like you, then its just a sign of the times that the nation has unproductive, useless riff raff like you and your college friends - that is the real reason why the US is in trouble, not because of the government or keynesian economics. there are at least 150-200m of you parasites in the US.
financialarsonist 1 year ago
@financialarsonist Keep smoking your keynesian crack pipe. You people are finally on the decline "thank God" how much credibility do you have with the entire country in ruin- Everything seems like a scam these days
lushfauna 1 year ago
Peter you forgot that the communist rule Chine, and there is just one political party, so they do not have to do any good for Chinese people and they will still remain in power.
jakovcu 1 year ago
Pfff! Why should I buy a new car?
Talking about clunkers!
I own a 1991 BMW 525 and it's still looks as good than any new car in the parking lot!
Starts every morning, get's me to work in style with premium stereo, heated, automatic leather seats, sporty handling, plenty of power from 6 cylinders, 5 speed manual, what the soul needs!
szaki 1 year ago
@szaki
Forgot the best part!!!!!
No payments the last 8 years!!!!
Cheap on insurance, $90 taxes a year!
szaki 1 year ago
china is a phony nation its people ar enot protecting its just more commie show and trick and Golitsyn predicted crap....China intentionally got us hooke don their heorin....again
deltapunk21 1 year ago
Excellent discussion of Mercantilism. Damn Peter I bet you got a A in macro.
Truthpolice9698 1 year ago
@LeeRyan2930 Yeah imagine how bad you would feel if you were jobless and congress is giveing money to banks, car companys and unions and not giveing you the unemployment insurance money you earned.........
IWashMyOwnBrain 1 year ago
I agree with Peter on the U.S. economy, but I don't think China is going to do any better just because of their slave labor and lack of freedoms.- It cannot sustain itself as a capitalistic system without the U.S. demand propping it up. IMO.
2uberu 1 year ago
@2uberu What are you talking about? They sell their stuff to the whole world. They´d prefer USA to be there and buy their stuff but they can live without you.
mr82769 1 year ago
@mr82769 China can't sell to anyone that can't afford to by their stuff including their own citizens. I don't see any other country taking up the slack if the U.S. stops buying.
2uberu 1 year ago
@2uberu But they CAN afford it. So can the people in India.
mr82769 1 year ago
@mr82769 They can't even afford basic plumbing. You can't go from a third world nation to a first without a strong infrastructure -physical and skilled.
2uberu 1 year ago
@2uberu They have to fastest trains in the world. Their economy can benefit from Keynesianism because they can upgrade infrastructure and they are doing just that. With future economic benefits to come from it.
China is not so far behind as you might think.
mr82769 1 year ago
@mr82769 Ooooh fast trains. They mean nothing unless you believe state-run propaganda. They need the skilled labor infrastructure to support a growing economy which they don't have. They need a free market which encourages small businesses to have skilled employees who are able to fix things that break. Their court system is also corrupt which makes binding contracts worthless.
2uberu 1 year ago
@2uberu If you dont know the importance of infrastructure dont bring it up. And China an India have (I think) 1 million newly educated engineers EVERY YEAR. Western firms even acknowledge the skill of the Chinese. Its just a problem that those skills are used copying western design and technology.
I will admit that the court system lacks some things and the copyright/patent system needs to be fixed. But the US also waited until it was in its interest.
The free market is essentially there.
mr82769 1 year ago
I love Schiff and all but I hate how he tends to marginalize economic activity every week like this is the week that the economy is gonna crash. I just watched a video that he posted over a year ago, talking about how the dollar index was falling and how this is proof that the dollar is gonna crash but the dollar has gone up pretty significantly since then
flukemate 1 year ago
I live in SC but I donated a small amount to your campaign. Good luck.
n66178 1 year ago
hey peter can you help me invest my money please contact me
tonyteb 1 year ago
@tonyteb
how much, all of your 2 dollars?
financialarsonist 1 year ago
Well the job numbers for June came out today and Peter you are right once again. I am blessed to be exposed to someone with your knowledge and prescience.
triniduane 1 year ago
i must say the analogy about china's foreign's reserve is flawed. China's foreign reserve took many years to accumulate to that level of GDP, while his analogy of taxing the u.s seem to imply the accumulation took only 1 year.
doctorwilly 1 year ago
This comment has received too many negative votes show
@doctorwilly
peter schiff is an idiot, all his analogies are flawed.
financialarsonist 1 year ago
@financialarsonist
His analogies are usually squeamish. If he'd stick to the points he's typically right though.
Pangora2 1 year ago
@financialarsonist Analogies are flawed by virtue of being an analogy. The point of an analogy is to get a point across. Do you have more wise ass comments?
ExquisiteDoom 1 year ago
@ExquisiteDoom
yes. his points are completely flawed and only idiots like you would listen to him. the reason that you people are on the same wavelength as schiff is all too evident: you are all idiots.
financialarsonist 1 year ago
@financialarsonist I don't listen to Schiff primarily you walking logical fallacy you. I happen to use analogies and i have found there is only one use for analogies. To get a point across. You're giving some shit to someone over a stupid reason, so i call you out on your bullshit. I have several relevant issues with Schiff, wheras the ones you have shown are blatantly stupid.
ExquisiteDoom 1 year ago
@doctorwilly I disagree :P He didn't mention a time frame at all. He said if we were taxed 30k per person we'd scream. I agree. If they raised our taxes by $1000/yr for 30 years, we'd scream. The time frame isn't relevant to the comparison. Fact: China has reserves. They should to enhance financial stability. We should too. Where are ours? Ours has a negative sign in front of it.
gwydion75 1 year ago
@gwydion75 of course time frame is relevant.say we get taxed over 60 years to reach that level, who would scream? shorter the time periodsto pay the same amount of tax, greater the financial burden on the tax payer. besides, the tax rate is china ain't high compared to the US
Furthermore, foreign reserve arise as result of trade surplus, not because of taxes. I dunno what the chinese have to scream about other than inflation
The fact u brought up is irrelevant to this dicussion..
doctorwilly 1 year ago
@doctorwilly Well isnt the point that the money used to buy those reserves could have been put to better use? And still can. Especially when youre as poor as many of the Chinese are.
mr82769 1 year ago
@mr82769 government spending in china is already very high. besides, there's not a hope in the world to be able to invest 2 TRILLION dollars with a reasonable return. Buying treasuries has been part of their strategy to keep the RMB low, though it seems to have fueled a bubble. if you know a better way to manage 2 trillion, go tell them.
doctorwilly 1 year ago
@doctorwilly 2 trillion is not that much. According to Bank for
International Settlements currency trade is 1900 billion dollars DAILY. There will never be enough money.
mr82769 1 year ago
@mr82769
precisely.
EnhydraLutris1 1 year ago
@mr82769 the point here is not about how much money that is compared to the world money supply, but rather "how hard" it is to invest 2 trillion dollars into sound, low risk investments, that gives a better return than the treasury yield.
if warren buffett, has enough troubles finding great investments for $25 Billion of idle cash, it is unlikely an inferior capital allocator would do better than Buffett with 2 Trillion.
doctorwilly 1 year ago
@doctorwilly Buffett is one man. There is never enough money...
mr82769 1 year ago
@mr82769 I repeat, the point is about "ability to find low risk investments that returns reasonably higher than treasury yield." IT'S NOT ABOUT HOW MUCH MONEY THAT IS RELATIVE TO THE WORLD MONEY SUPPLY.
the reserve is handled by central bank, not by a bunch of star hedgefund managers who bust their asses to make huge money(prolly not low risk either). not to mention most of the have problem achieving stellar returns when their AUM goes beyond a few billion.
get the ideas right.
doctorwilly 1 year ago
@doctorwilly You were to one saying that. "Low risk investments with a reasonable return". Having it all in dollars isnt just that. Having that amount of money the investments can be spread into a lot of areas and you can get a reasonable return on some/most of it (nobody is saying thay HAVE to invest all of it).
mr82769 1 year ago
@mr82769 what point are u trying to make? did i say they must invest all 2T in 1 investment?
if you want to invest in something other than the treasuries, it better also be safe with reasonaly higher yield. Otherwise, they are still better off investing in treasuries and keeping their RMB low.
for the record, the chinese holds 700+B of treasuries of the world's largest debt issuer. If u claim there are places to invest the rest of the 1.3T, you go tell them. i would applaud u if u can.
doctorwilly 1 year ago
@doctorwilly Im trying to say the market is enormous.
mr82769 1 year ago
WAR and Stimulus...it feeds the rich while it buries the poor!
petiemac24 1 year ago 12
@SamDeRe81 I would check the state law to see the minimum coverage the law requires
Steve2323ZX 1 year ago
@SamDeRe81 just stop paying for insurance.
poisonplumbs 1 year ago
Thanks for another excellent lesson on economy. I have a degree in Economics, but I learnt more on youtube than I leant in school. Actually all I learned in school was government propaganda. Promoting economic ideas that approve of the government's recklessness.
ravaneli55 1 year ago 42
@ravaneli55
Ditto that! I got into the biggest argument with a past economics professor for that very same reason. If you wish to learn more about the usurpation of our educational system, look into the findings of the Reece Committe on tax exempt Foundations...also check out Charlotte Iserbyt.
jawneblaize 1 year ago
@ravaneli55 You make me glad i decided not to attend school for my economics. I however sympathize with your lost time.
ExquisiteDoom 1 year ago
@ExquisiteDoom
did you even attend school and complete your education is the key question.
financialarsonist 1 year ago
@financialarsonist That presupposes that schools today are education by virtue of being a popular and accepted ritual. Horace Mann and John Dewey's goals when it comes to applying the prussian model to the United states wasn't so much about education but creating an obedient little factory worker and state worshiper/thumper like any good faithful keynsian will be. It's clear to me that it worked. But you're not about to admit it, are you?
ExquisiteDoom 1 year ago
@ExquisiteDoom
haha, you nosy twat - you are not thinking that you will get free advice from me are you? my rate was US$6,600 per day 5 years ago before i started a PEF, pay me, and i'll engage you. otherwise, adios.
financialarsonist 1 year ago
@financialarsonist I don't care.... Do you really think i give two shits how much money you make? You're not me! LOL. I don't have some twisted fixation. Besides it's totally irrelevant to the point. For someone with such a great salary you sure as hell make stupid ass comments and you can't counter with consistent use of logic to someone who proudly admits not being a product of schools (At least, not anymore).
ExquisiteDoom 1 year ago
@ExquisiteDoom
you seriously think that youtube is some sort of a debate forum? i created this account to diss peter schiff so mind your own idiotic business and keep your nose out of mine. i'm not here to engage morons like you -- like i said, i get paid in real life to do that (note: well, actually to those that have the propensity and ability to pay).
financialarsonist 1 year ago
@financialarsonist This moron owned you with pure logic, you fool. I don't need to get paid to totally ruin each and every of your arguments if they are based on lies and deceit and i will do it for free just because i enjoy it. It's gratifying for me if you tell me you are a rich cunt when i totally show you how much of an intellectual waste you are. Again, i do beleive Peter is inconsistent, but you are simply a joke.You are not promoting truth by making purely subjective claim as argument
ExquisiteDoom 1 year ago 2
@ExquisiteDoom
you wouldn't know what a logical argument is if it came and bit you on the ass. the only self-gratification you can get is on youtube since you are a loser in real life. face the facts and the music, peasant. now stop bothering me with your pedestrian peasant tripe.
financialarsonist 1 year ago
@financialarsonist
Oh no, i'm a loser in real life. You have employed an ad hominem fallacy as argument for not providing a concise answer. I don't think you can differ logic from your own asshole.
ExquisiteDoom 1 year ago
@financialarsonist - People who go online to brag about wealth or education usually have very little of both. Judging by your comments, your advice is worthless garbage. Posting on Youtube how someone should actually pay you to listen to your worthless blather has as much credibility as a Nigerian letter scam or pyramid scheme.
violentwart 1 year ago 2
This has been flagged as spam show
@violentwart
so you are not an intelligence expert as you claim? you are like the guy in "true lies".?. and you know i'm not talking about arnold ok.
financialarsonist 1 year ago
@violentwart
so by that rationale, you are not an intelligence expert as you claim? just some internet nigger who likes to poke his nose into shit? haha.
financialarsonist 1 year ago
@financialarsonist - Your choice of racial slurs is very telling as to your lack of character and intellect. You and your co-habitant Zeldovich are examples of low self-esteem losers desperately trying to find validation in internet forums. People like you are easy marks, the same language appears over and over againg (referring to people as proles or peasants unworthy of your posts etc). Narcissists make the best targets - as they can't deal with embarrassment.
violentwart 1 year ago
@violentwart
well, you are obviously not a very smart guy nor an intelligence expert as you claim. otherwise, you would realize that different people are using this account to post at different times and on different subjects.
adios, loser - hahahahahaha.
financialarsonist 1 year ago
@financialarsonist - Is that the best you can do? Are you inferring that someone else must have posted the racist slur? If different people are using the same account, it means you and your co-habitants sit together creating stupid posts, as no single person is smart enough to think on their own. You really are a pathetic loser. Do you and your co-habitants celebrate a posted comment by sharing a single beer amongst all of you too? Then troll the streets looking for cigarette butts?
violentwart 1 year ago
@ravaneli55 You were never in my class.
Truthpolice9698 1 year ago
@ravaneli55 I can second that, pure propaganda on schools.
karkelkhan 1 year ago
@ravaneli55
its a sign of the times that zombies like you roam the earth.
financialarsonist 1 year ago
@ravaneli55 I could not agree more!!!!!
grossleinbach 1 year ago
@ravaneli55 I took some economics courses. I remember the same thing.
alanhowitzer 1 year ago
conversely, I import to China. I manufacture goods for which I pay in dollars (rent, labor, materials), and sell in RMB, so the strengthening RMB is good for my business, however, making the packaging in China is getting more and more expensive.
eyecoin 1 year ago
I have been living in China 7 years now. Prices are going up for small domestic made things that are for domestic consumption. This is the effect of inflation.
My friends who are exporters, are having price pressure because of the strength of RMB vs $.
The balance I have seen so far, is my rent, in RMB is has not gone up in 7 years, because there is over supply of apartments, thereby a downward price pressure, but the same rent in RMB translated to $ is much higher than before.
eyecoin 1 year ago
soon you wont need to sit on the fence so much peter, if the economy tanks you can attack - I cant wait!
feverpitch82 1 year ago
Why does Peter's voice always start off deep and end up normal in the end of the video?
juujuuuujj 1 year ago
@juujuuuujj he wants to take on Vinnie Mac in a steel cage match so he needs to bulk up with roids
Steve2323ZX 1 year ago
Go Peter!!
Intervene 1 year ago
No, it was triggered by manipulation.
terr547 1 year ago
They gotta cool gold in Europe because they know it's gonna be heating up in the US.
PassTheLoot 1 year ago
@PassTheLoot
Otherwise, the global financial mafia would lose control of their fiat money system, which would be the best thing for everyone.
PassTheLoot 1 year ago
Peter, do you use denture?
tenorama 1 year ago
Peter, regarding your "Imagine if the US Gov't raised taxes....." scenario; DON'T GIVE THEM ANY IDEAS!!
roxtar10870 1 year ago
gold has two down days and all of a sudden everyone jumps out and says the bubble has popped... gold is not a bubble.... there is no "gold buyer tax credit".
drshock18 1 year ago
Peter has helped millions around the world by warning them of incoming economics storm! I thank him for taking time out by posting such type of blogs daily! Thanks again, for helping individuals like me for protecting and multiplying our wealth! I wonder why Peter is still not the most popular man in America!
MrVasumogan 1 year ago
@MrVasumogan
as if a peasant like you has any money to begin with. you are just here for free advice aren't you, you cheapskate. well, the advice is free for a good reason - it sucks.
financialarsonist 1 year ago
thanks for your videos i have watched them for three years now if you could please just coment about oil
samya6a6a 1 year ago
QUESTION
What does head and shoulder top and bottom mean?
TheMrMarple 1 year ago
@TheMrMarple Imagine that the price level of something stays flat, like the collar bone from the sholder to the neck. Then it suddenly shoots up (the side of the head), stays up there for a while (the TOP of the head) and then it crashes down again (the other side of the head).
Lastly, it continues along the same level it started on, i.e. the along the collarbone on the other side of the head out to the shoulder. This is the bottom of the head-and-shoulder. Did this answer your question?
vindician 1 year ago
@vindician Perfectly. thanks.
TheMrMarple 1 year ago
@TheMrMarple look up bell curve graph
CheekyMonkey888 1 year ago
Thank you Peter Great as usual, you are right all the way!
It is very scary, i believe by Christmas it will be very painful, even dangerous, i hope i am wrong.
dzirisenior 1 year ago
china will fragment during their first real recession
1989kirby 1 year ago
@1989kirby Because the Chinese are so much whinier than the Americans. Right?
mr82769 1 year ago
Yep the Chinese government is hiring it's people out as slave labor to the rest of the world........ Wake up people of China......when the people of China start getting paid what they are worth the manufacturing will move back to Europe and America....
IWashMyOwnBrain 1 year ago
china put a stop on all excessive deficit printing at the g20..their ultamatum: reduce your deficit or we won't buy your bonds... if deficit increases more than they like they will sell off and stop buying causing the fed to have to print money into existence rather than sell to foriegn governments. chinas unpegging was in their favor and they hold the cards now. that might be a good thing 4 now. less deficit.i usually agree with Pete but I think the gold market will stagnate until year end.
2237lemon 1 year ago
Great analysis as always. Thanks!!
tcgmagenta 1 year ago
Thanks Again Mr. Schiff! I hope society wakes up soon!
SilverEconomics 1 year ago
Thanks Peter, I always learn from you.
whiskerchild 1 year ago
My town received a sidewalk last year...built by contractors from another town, using our share of the stimulus money, we see it already cracking, the landscaping is deteriorating because the town can't afford the labor to care for it, and half the metal rails adjacent to the road are unpainted and in rust...meanwhile, our Governor is begging Washington for Medicaid money so he can balance his budget due to "lower than expected revenues"... but I have hope that that sidewalk will soon produce...
imataxslave 1 year ago
Pete is going to be right... again!
asmall89 1 year ago
Yes!! blog again tomorrow!!
korzym 1 year ago
PETER! start talking about what WILL happen between the end of august and throughout 2011. then compare your solution to linda's. she's doesn't have any real plans about the future.
even if you lost the election you would have completely made another "peter schiff prediction." even MORE people would be saying "we should have listened to schiff."
tmac9938 1 year ago
Peter, do u believe in Gata gold manipulation? If so, why manipulate till today's level? Why not down all the way to 200USD/oz?
dcanrius 1 year ago
...and no more inexpensive goods from China for Americans. Not to worry though, there will be plenty of corporate crooks that will outsource labor to places like Vietnam and Laos for pure profit.
clearasvodka 1 year ago
Schiff happens... lol
I love it!
vdubs4life1964 1 year ago
Schiff for president.Makes me want to become an American. Thanks Peter for your generous information.
jvolpe1 1 year ago
@jvolpe1
bumblebeeimports 1 year ago
Great analysis of the current situation. How do we get rid of Obamination?
focus21x 1 year ago
Peter,
If I hear another professional trader or investor say on CNBC that the "bond market is the most reliable indicator of things" I am going to just start laughing! The Fed and US Treasury know they gotta rig the bond market. It's their cash cow. If they lose control of the bond market, the endgame scenario will be very, very close I think. I am of the opinion that the bond market is now the most manipulated market now contrary to what most of Wall St thinks...
WallStForMainSt 1 year ago
Are "technicals" in the stock market based on anything? People talk about "head and shoulders" and other patterns, but it seems to me like this is meaningless except that so many people buy into it that it becomes a self fulfilling prophecy.
purebacon 1 year ago 6
@purebacon I think it is self fullfilling too. Just like the quasi fact that gold is worth anything. Its a freaking metal for crying out loud.
Somewhere on the net theres a school where you can learn how to trade currencies and they seriously teach that the fibonacci numbers are important as to foresee what happens once a currency cross reaches a certain level. So some bizarre human psychology is involved too.
mr82769 1 year ago
@purebacon
What you said is largly true, but the patterns of analysis are in fact based on investment truths regarding mass psychology. Of course that being said, there usually is a sell off 'only' because chartists see a head and shoulders pattern, even though the stock could just as easily rise with good company news. So as you said, much of it is real, while much of it is 'oh i better pull out now because i think everyone else will too'.
treysparker 1 year ago
@purebacon
Technicals is the only method that helps u trade in both directions with equal ease. It takes hope & despair out of the equaiton by giving clear levels of entry/exit. It's not perfect. No method is. Sell-offs happen on both good & bad news, and other analysts often modify their reports only after stock price exceeds their target. Instead of opining, why don't u give it a try? A sphere looks like a circle. Would u rather spend ur entire life calling it that just because it "seems" so?
amitnewyork 1 year ago
Always great perspectives here, thanks for posting these vlogs Pete.
dgmoocher 1 year ago
CNBC is a joke Peter, non one listens to their shit. In fact, savvy investors do the opposite of what they say.
justgetsome 1 year ago
Peter don't you think the reason the EURO went up and GOLD went down because some Euro countries sold a bunch of GOLD and SILVER to pay some creditors ?
I know in July 1st E-U was planning to reduce the credit availability. I don't know the details though.
eudoxus3 1 year ago
Schiff for President 2012
bkdmd 1 year ago
Your computer graphics guy was able to straighten your eye out, but he didn't get the greens screen spill off of your shirt. B- for the graphics guy.
onjoFilms 1 year ago
Home mortgages are at a 40 year low. I hope you win your campaign Peter, but the lame stream media favors your opponent.
mja2035 1 year ago
GO CHINA!
dengzhi 1 year ago
I clicked the thumbs up before I heard a single word. When Peter is talking you just know you're going to like it.....
fasteddie847 1 year ago
BUY GOLD AND SILVER NOW!!!!!!!!
obxguy1 1 year ago
Thanks Peter, I always look to see what you have posted, I sincerely hope you win the election, we need you and others like you to help to fix this system.
bradleytank666 1 year ago 3
Peter Schiff was right! Again!? and again!?
ForceOfWizardry 1 year ago
peter the man! hes an island of intelligence... in a sea of stupidity :)
ott0Kitam 1 year ago
But haven't you all heard? Pelosi said that the best way to create jobs is to extend unemployment. She stated that this is by far the best stimulus for jobs.
tomperanteau 1 year ago
i hope you're right about gold. the dollar is the world's currency, and a weak dollar as opposed to weak euro is ultimately what's gonna drive gold prices up. it's a great week to buy gold now, though, since newfound confidence in the euro will temporarily lower gold prices.
CoolPotatoBeans 1 year ago
Krugman's latest op-ed is claiming deflation is killing our economy. He claims balanced budgets are gonna put us into a 3rd Depression. He claims we should spend spend spend!! God help us if the government heeds his advice. Thanks for words of wisdom Peter.
roundman3000 1 year ago
Thanks to the prophet. I love Peter Schiff.
swas2704 1 year ago
what is the lil soccer ball looking thing next to the CC feature.....its driving me crazy would someone please help me out here
uwmbigb 1 year ago
@uwmbigb its the sound of the annoying vuvuzella's from the Soccer World Cup. or Football World cup as we call it in the rest of the civilized world ;)
mrdoonbeg 1 year ago
@uwmbigb Click on the little soccer ball to hear the vuvuzelas.
donfsa 1 year ago
@donfsa Ahhhhh, I get it, soccer time, thanks
uwmbigb 1 year ago
Buy Food, Water, Guns and Ammo. You can't eat Gold or Silver
americanbandwidth 1 year ago
@americanbandwidth Just buy food, you won't need an excess of guns or ammo, just enough to defend your house. If you think your gonna be hunting to live if there is a real collapse, your dead wrong, theres about 70 million people who think that, the game will be gone in weeks if there is a real collapse.
BMac7773 1 year ago
@americanbandwidth Peter once said buy all the above and gold and silver.
MIT2004 1 year ago
@americanbandwidth ohh and also a dog, a big dog
MIT2004 1 year ago
Comment removed
viehe69 1 year ago
@viehe69 nah better get a 200lb dog. lol i would recommend have 2 or 3 dogs like the kind that Bruce Wayne had in Batman Beyond.
MIT2004 1 year ago
so im going to start buying bullion tomorrow... anyone have a suggestion on whether i should buy gold or silver?? thx
btmcguir25 1 year ago